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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (7630)8/25/1999 5:46:00 PM
From: Dan Duchardt  Read Replies (1) of 12617
 
I've been using Merrill Lynch OnLine Trading for about a week. The web based interface is annoyingly slow and requires password entry on a verification screen separate from the order entry screen, but the executions have been good, and I have gotten price improvement with limit orders to buy at bid. I use myTrack for real time data. Today I saw an order executed by looking at the myTrack screen within a few seconds of hitting the final send button on ML. 10 or 15 seconds later I got the Order Accepted message, and then after another 15 or 20 seconds I was able to view the status page that showed my order executed. So far at least, I've never been shut out by the server, so I'd have to say it's better than my experience with Datek.

Merrill makes no pretense about trying to attract daytraders, restricts you from buying sub $5 stocks, and does not allow options trading online, but the price is very attractive: 1% of the account value (minimum $1500) per year. For an active swing trader, this is a real bargain. I keep telling them every chance I get they need to speed things up. Hopefully, enough of their clients will tell them the same thing and they will eventually get the message.
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